Buying Real Estate with AI Shares in San Francisco
In San Francisco, it’s not merely the exorbitant price tags that draw buyers to real estate. What’s particularly intriguing? The option to pay with shares in prominent artificial intelligence firms.
This unconventional method exemplifies the significant economic impact the AI sector has been having, fueling a real estate surge in the challenging Bay Area market.
“My cell phone broke,” listing agent Rachel Swan remarked when speaking to another outlet. “I think it’s exciting for potential buyers.”
Listed at a staggering $2.995 million, a three-bedroom, two-bath home in the DuBose Triangle neighborhood stands out. It spans 2,495 square feet, which isn’t too outrageous by San Francisco standards.
The three-story, narrow white building, recently renovated over two years, is described in the listing as a place that “exudes luxury, harmony, and unparalleled beauty.” The bathrooms feature marble and designer lighting, and it includes a spacious garage accommodating two cars.
The listing also claims that the home’s plumbing, electrical, and air conditioning have all been upgraded. “This rare restored 1907 mansion will amaze your senses,” it announces, adding that the seller will receive shares in AI pioneers OpenAI and Anthropic, both among the top players in technology.
As of March, OpenAI was valued at $852 billion, a remarkable leap from its roughly $29 billion valuation just three years ago.
Meanwhile, Anthropic hit a staggering $965 billion in its latest funding round, making it the most valuable AI startup, surpassing even OpenAI.
Swan mentioned that the seller, a developer, strongly believes in both companies. She said the idea to accept equity payments came to her after noticing many employees and investors from OpenAI and Anthropic looking for housing in a competitive market.
As per available legal guidance, accepting stock payments requires a purchase contract that specifies the exact security, number of shares, and the date and time of valuation.
This isn’t the first instance of homes being sold for shares in an AI startup. Recently, a seller in Mill Valley offered a 4,400-square-foot house for Anthropic stock.
